California-based SpyGlass Pharma and New York’s AgomAb Therapeutics have filed to go public, joining the 2026 class of biotech initial public offerings. Both companies launched their IPO efforts last week, but neither has disclosed expected proceeds.
AgomAb plans to list on the Nasdaq Global Market under the ticker AGMB. SpyGlass is aiming for the more selective Nasdaq Global Select Market with the symbol SGP.
SpyGlass Pharma is further along in clinical development. Its main product is a bimatoprost drug pad-intraocular lens system, currently in Phase III trials for reducing intraocular pressure in patients with ocular hypertension or open-angle glaucoma. The company’s SEC filing states that this device delivers sustained doses of bimatoprost after being implanted during cataract surgery. SpyGlass began two registrational studies in July 2025, each enrolling about 400 participants. Enrollment should finish by 2027, and if successful, an approval application could follow in 2028. Proceeds from the IPO are intended primarily to fund these Phase III trials and support an initial launch if approved.
AgomAb’s lead asset is AGMB-129 (ontunisertib), an oral small-molecule ALK5 inhibitor targeting fibrostenosing Crohn’s disease—a severe complication associated with significant morbidity according to its regulatory filing. Ontunisertib is being tested in the ongoing Phase IIa STENOVA study, which includes a 48-week open-label extension phase with data expected later this year. The company also plans to begin a Phase IIb trial of ontunisertib before year-end.
The two companies join other biopharma firms entering public markets this year. Veradermics, focused on hair growth, and Eikon Therapeutics, which targets cancer treatments, both announced IPOs earlier this month. Aktis Oncology started trading publicly on January 9 and raised $318 million following its own Nasdaq debut last month.
